Russian companies are coming to Turkey to buy hotels

Recently, many companies, especially those based in Russia, have been moving their offices to Turkey to avoid being affected by the embargo. At the same time, Russian companies that have started to enter the tourism sector by purchasing hotels are also looking for housing for their white-collar employees.

The sanctions imposed on Russia have caused many companies operating in the country to turn their direction to Turkey. Companies are knocking on the door of the real estate industry to find the offices to rent and flats for their white-collar employees.

The ongoing war between Ukraine and Russia have caused business people from both countries to buy housing in Turkey, while recently many companies, especially those based in Russia, have been moving their offices to Turkey to avoid being affected by the embargo. At the same time, Russian companies that have started to enter the tourism sector by purchasing hotels are also looking for housing for their white-collar employees.

“They are coming for hotel investments”

An executive from a real estate company said that at the end of the prolonged embargo process against Russia, Russian companies had turned their direction to Turkey, “They also have requests from us, such as warehouse and factory space” he added. Same person also noted that while he was looking at Istanbul, Izmit, Bursa, Corlu and Tekirdağ for factory places, there were also those who were investing in the tourism field, such as buying and operating hotels.

He said that the Russian white collar group, which had lost their jobs due to the withdrawal of European brands as well as companies, had also come to look for work in Turkey. He added “Because while Ukrainians are accepted by many European countries, there is no such opportunity for Russians. Therefore, they prefer Turkey.”